By
Nathalia Duarte
April 9, 2026
Updated
April 16, 2026
Almost all Asian countries acknowledged the urgency of reducing carbon emissions and set net zero targets, particularly those heavily dependent on imported fossil fuels.
Combined with sharp declines in PV system costs over the past decade, this has positioned solar as one of the fastest-growing renewable energy sources in Asia.
In this article, we’ll explore Asia Pacific’s market growth, trends, top projects and job opportunities.
A snapshot of Asia Pacific’s solar energy market
According to Cervicorn Consulting, the Asia Pacific solar power market reached $133 billion in 2024 and is projected to grow rapidly through 2034, supported by strong clean energy infrastructure investment, declining technology costs and economies of scale.
Figure 1: Asia Pacific Solar Power Market Size 2024 to 2034 (USD Billion). Source: Cervicorn Consulting
Solar currently accounts for around 6% of Asia’s energy mix, but it is one of the region’s fastest‑growing renewable sources. Sharp declines in PV costs over the past decade, combined with net zero commitments, are accelerating adoption, particularly in fossil‑fuel‑importing countries such as Japan, South Korea and Taiwan.
Figure 2: Asia's 2024 Energy Mix. Source: EIC Asset Map
Cost-competitiveness of solar energy in Asia
Rapid cost declines have made solar PV one of Asia’s most competitive energy sources. Large‑scale manufacturing, led by China, has driven sharp price reductions across the value chain, while efficiency gains and improved system design have lowered both project and O&M costs. According to Cervicorn Consulting:
- Solar panel efficiency has improved by 15–20% in recent years
- Solar panel prices have fallen by nearly 90% over the past decade
In 2024, LCOEs in China and India reached $0.033–0.038 per kWh, with renewables now at least 20% cheaper than average power prices in most regions, cementing solar’s central role in Asia’s energy transition.
Figure 3: Renewable electricity costs compared to electricity prices. Source: Global Renewables Outlook 2020, from IRENA.
Regional strategies to improve renewable energy
Asia Pacific leads global solar PV investment, with nearly $190 billion in projected CAPEX by 2025 according to EIC, supported by domestic and international funding. Countries such as India, Malaysia and Indonesia are scaling up utility-scale and floating solar, while Australia explores solar-powered green hydrogen.
Across the region, falling PV costs, strong solar resources and net zero targets are accelerating adoption. Deployment strategies vary widely, from India’s large solar parks to alternative formats in land-constrained markets like Japan.
The table below summarises each country’s renewable and net zero targets, solar capacity goals (where available) and key climate initiatives.
| Country | Renewable and net zero target | Solar capacity target | Countries’ initiatives |
|---|---|---|---|
| China | Peak emissions before 2030 and net zero by 2060. Non‑fossil energy to reach 25% of primary energy by 2030. | 1,200 GW of combined wind & solar by 2030 (already exceeded). | China’s 15th Five-Year Plan. |
| India | 500 GW of non‑fossil capacity by 2030 and net zero by 2070. | Solar is expected to contribute around 280 to 300 GW by 2030 as part of the 500 GW target. | Panchamrit (Five Nectars) and National Action Plan on Climate Change (NAPCC). |
| Japan | Net zero by 2050 and renewables to supply 36–38% of electricity by 2030. | Solar is targeted to provide 14–16% of total electricity generation by 2030. | Sixth Strategic Energy Plan - 2050 Carbon neutral. |
| South Korea | Net zero by 2050 and renewables to reach 22% of power generation by 2030. | Solar capacity target of 77.2 GW in 2038. | Renewable Energy 3020 Plan and The 11th Basic Plan for Electricity Supply and Demand (2025). |
| Vietnam | Net zero by 2050 and renewables to reach 47% of electricity by 2030. | Up to 73 GW of solar capacity by 2030 (including rooftop and utility‑scale). | Power Development Plan VIII (PDP8). |
| Australia | Net zero by 2050 and 82% renewable electricity by 2030. |
Up to 36GW of rooftop solar target. No explicit utility-scale target. | Electricity and Energy Sector Plan and Climate Change Act 2022. |
| Indonesia | Net zero by 2060, and renewables to reach 23% of primary energy by 2025 and 31% by 2050. | Up to 100 GW solar capacity by 2030. | The National Energy Policy. |
| Philippines | 35% renewable energy by 2030 and 50% by 2040. | Over 8 GW of solar projects committed by 2030. | The Philippine Energy Plan (PEP). |
| Singapore | Net zero by 2050. | 3GWp of solar capacity by 2030. | Long-Term Low-Emissions Development Strategy (LEDS). |
| Thailand | Carbon neutrality by 2050 and net zero emissions by 2065; 51% renewable electricity by 2037. | 39NWp of solar capacity by 2037. | The Power Development Plan (PDP) and Alternative Energy Development Plan (AEDP 2024). |
| Taiwan | Net zero by 2050 and renewables to reach 20% of electricity by 2025. | 20GW of solar capacity by 2025. | Taiwan's 2050 Net zero Pathway. |
| Bangladesh | Renewables to reach 40 GW by 2041. | Targets 16GW large solar hubs, 4GW utility-scale projects, 5GW private developments, and 12GW rooftop installations. | SMART Bangladesh, Draft National Solar Energy Action Plan and Integrated Energy and Power Master Plan (IEPMP). |
| Pakistan | 60% renewable electricity by 2030. | Almost 13 GW of solar and wind capacity by 2030 (combined target). | Fast-Track Solar Photovoltaic (PV) Initiative and Alternative and Renewable Energy (ARE) Policy 2019. |
| New Zealand | 100% renewable electricity by 2030 and net zero by 2050. | No solar‑specific capacity target. | The Climate Change Response (Zero Carbon) Amendment Act 2019. |
Solar energy market trends in Asia Pacific
As both mature and emerging markets expand solar deployment, several technology and infrastructure trends are reshaping how solar energy is generated, stored and integrated across the Asia Pacific.
1. Modular solar systems
Modular solar designs support both small‑scale residential use and larger commercial and industrial projects. While common in urban households, they are increasingly used in scalable utility‑scale developments.
2. Digital integration
Digital technologies are improving solar performance and efficiency across the region. The use of AI, machine learning and IoT enables real‑time monitoring, predictive maintenance and optimised energy management.
3. Rooftop solar growth
Rooftop solar is expanding rapidly, particularly in urban markets seeking greater energy security and sustainability. Government incentives continue to drive adoption in residential and commercial segments.
4. Hybrid, floating and emerging applications
Solar deployment is becoming more diversified, with Southeast Asian markets investing in floating solar PV for large‑scale projects. Elsewhere, solar is increasingly paired with wind and battery storage, while Australia is integrating solar with green hydrogen to support industrial decarbonisation.
Jobs in demand in the solar industry
The renewable energy sector employs around 11.5 million people globally, with solar accounting for nearly one‑third of those jobs. As the world’s largest solar manufacturing and deployment market, China alone supported around 2.2 million solar jobs in 2019.
By 2050, renewable energy employment is expected to reach 42 million roles, with Asia driving the majority of growth. Solar is projected to generate around half of all renewable jobs in the region, led by East Asia (36%), followed by the rest of Asia accounting for 28% of new roles.
Figure 4: An estimated 42 million jobs in renewables: regional distribution. Source: IRENA, 2020.
Discover employment trends for the renewable energy sector in 2026
What are the skills needed?
A frequent question in the renewable sector is about the skills needed to fill clean energy jobs. It is important to note that most of the abilities and disciplines could be transferable from other sectors of the industry.
Many of the employees formerly working in oil and gas now distribute, construct and maintain solar panels. There are plenty of opportunities for professionals who want to switch to clean energy.
Key areas across the renewable energy chain
These are the core segments where skilled professionals are needed to support project delivery:
- Construction and installation
- Operations and maintenance
- Manufacturing
In-demand talent
These are the types of professionals most needed across renewable energy projects:
- Workers and technicians
- Experts
- Engineers
Main roles
These roles are critical to managing and executing renewable energy developments:
- Construction management
- Project Management
- Project Development
- EPC management
Airswift is already working with key companies and several developers, contractors, and consultancies to hire employees and contractors with these skill sets.
Want more insight into talent trends in the renewable energy industry? Click the link below to download our whitepaper.
Top five solar energy projects in Asia Pacific
There are currently 614 solar energy projects in Asia Pacific, with a total value of $290 billion. Here are five of them:
India
1. Solar Power Project (Adani Green 8GW)
Adani Green Energy’s $6 billion initiative will develop 2GW solar power plants across India, targeting a total capacity of 8GW by 2028. The agreement also includes 2,000MW of solar cell and module manufacturing, with only an 180MW solar farm in Rajasthan commissioned to date.
2. Kutch Ultra Mega Solar Power Park
One of the world’s largest solar power facilities, this $2.8 billion project will develop a 4.75GW solar park in the salt marshes of Khavda village, Gujarat, with completion expected by 2027. Generating 30.000MW of clean electricity output, enough to power millions of houses, it is set to create 100,000 renewable energy jobs from construction through operations.
Australia
3. Central West Solar Farm/Quorn Park Solar Hybrid
Set to launch in 2026, this $1 billion project by Potentia Energy and Renewable Energy Developments Pty Ltd will create a 98MW solar farm located 10km northwest of Parkes, New South Wales. As part of a hybrid solar-battery project, the site will feature a 20MW/40MWh battery storage facility, with output enough to power 45.000 households.
South Korea
4. Saemangeum Floating Solar Farm
Operated by the South Korean government, this $4 billion project will deliver the country’s largest floating PV solar farm, a 2.1GW facility on the Saemangeum lake. Set to launch in 2026, it is part of a broader project to turn the region into a global hub for renewable energy.
Philippines
5. Bugallon Solar Power Project
Developed by Vena Energy in partnership with MGen Renewable Energy Inc., this project will create a 550MW solar farm to be located in Bugallon, Pangasinan. Construction is expected to be completed in 2026, with the capacity to power over 810,000 households.
Need help hiring for your solar energy project?
With a global presence and proven experience in energy recruitment, Airswift connects organisations to top talent across solar projects. Our dedicated consultants support clients through the full project lifecycle, ensuring you have the right people in the right place at the right time.
If you’re ready to accelerate your renewable energy initiatives, contact us today.
